The Truth in Lending Act (TILA) requires creditors

A)

to inform you of the amount of monthly interest but not how it is determined.
B)

to tell you the APR, the interest rate applicable during a period, and the method used to determine the balance to which the rate is applied.
C)

to inform you only of the APR; with this, you can determine all other information if you want it.
D)

simply to be truthful in any information provided; the kind and amount of such information is up to them.

B

Business

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Aceco has a contract with a supplier to ship parts that contain no more than three percent defects. When a large shipment of parts comes in, Aceco samples n = 150. Based on the results of the sample, they either accept the shipment or reject it. If Aceco wants no more than a 0.10 chance of rejecting a good shipment, the cut-off between accepting and rejecting should be 0.0478 or 4.78 percent of the sample

Indicate whether the statement is true or false

Business

Which of the following is not a relevant account when auditing stockholders' equity?

a. Treasury stock. b. Dividends. c. Sinking fund for plant expansion. d. Retained earnings.

Business